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satisfactorily settled between the owners and the miners themselves, by districts, and without any attempt at a national agreement.

Where Labour disputes and unrest are concerned, the country does not want temporary or emergency measures. It desires permanent and effective legislation, to place trade unions on a basis of equality with other sections of the community, and to bring all political firebrands and revolutionaries within the arm of the law. Responsible and law-abiding citizens have been patiently waiting nearly two years for the Government to introduce suitable legislation of this character, and they feel that it would have been an easy matter to have done this immediately after the elections, when the country expected it. To-day vehement opposition may be anticipated from the Labour Party, but the Government should not be deterred by that fact. Mr Baldwin must realise by this time that Labour cannot be fought with the gloves on, and that friendly overtures and concessions are only regarded as signs of weakness. He can, however, rely on the staunch support of all Conservatives, not only in Parliament but throughout the country, for it is generally realised to-day that without definite legislation to prevent fanatical idealists and revolutionaries from poisoning the minds of children and callow youths, not even the return of indus

trial prosperity will arrest the growth of Communism.

The object of this article, as its title indicated, is to put forward a considered opinion regarding the future prospects of British industry under the conditions which we believe must inevitably arise, and towards which we are already drifting. To do this accurately, it has been necessary first to consider the deplorable state into which most of our staple industries have fallen, and the circumstances which have brought about that condition.

We propose now to turn to the more agreeable task of considering the mandate which the Government received from the country to carry out measures for safeguarding home industries, for developing Imperial Preference, and means for Empire settlement. It is in these directions that the only true and lasting solution of our national difficulties will be found.

Facts to which we have already referred indicate that the Government has not entirely ignored this mandate, and we have quoted figures to show how the small measures of Imperial Preference and Protection which they have added to the Statutes have already reacted favourably on our balance of trade. What has been done hitherto, however, falls very short of Joseph Chamberlain's ideals. His contention was that a genuine balance of trade could only be maintained when we purchased all imported foodstuffs within the Empire.

It is not our intention to overload this article with statistics in support of Mr Chamberlain's views. These are obtainable from many sources, one of the most interesting being a book, first published about two years ago, entitled 'The Kangaroo Keeps on Talking,' by L. St Clare Grondona, with an introduction by Mr Baldwin. The author deals in a readable and attractive way with the economic facts of Empire Preference in relation to the vexed question of foodstuffs, and quotes figures, chiefly in relation to Australia, which ought to remove most of the misconceptions that have hitherto obscured the vision of many people on this vital matter. In a more recent publication by V. A. Malcolmson, entitled 'National Existence or Starvation,' and issued by the Empire Industries Association, attention is specially drawn to the present position of this country in the matter of its own food production. It is stated by the author that we have now to pay annually about 500 millions for foodstuffs imported from overseas, and we can only provide that sum by selling other goods to the nations of the world. We have already pointed out that in actual commercial exchange last year we had to find 400 millions more than we realised by the sale of goods abroad, the adverse balance being made up from the sources known as

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formerly available from these "invisible exports" for investment abroad-which was once our reserve fund for contingencies-had shrunk almost to vanishing point. The solution of our difficulties, according to Mr Malcolmson, Mr Grondona, and a host of other authorities who have made a special study of the problem, is co-operation with our overseas Dominions and Colonies on the basis of an Empire policy of food supplies, as originally proposed by Mr Chamberlain. This policy does not involve any curtailment of our home food production. On the contrary, it aims at building up a skilled and robust agricultural community in the Mother Country, and the war came as a timely reminder of this necessity. In 1914, we were only growing every year enough wheat to keep us for sixty days. To meet the desperate emergency of the war the amount was, with great difficulty, increased, until in 1918 we were producing enough wheat to keep us for one hundred days, and now the amount is back once again to a supply for sixty days. Such is the way we have taken to heart one of the most vital lessons of the war!

There are very few authorities who contend that it is an economical proposition for this country to attempt to produce all its own bread and meat supplies. Such a policy might secure us against starvation in the event of another great war, but even if it were pos

sible, it would take years to accomplish.

Mr Malcolmson's view is that it would suffice to aim at a home production of one-third of our total food requirements. That was the position to which we had practically attained in 1918, and it ought never to have been lost. It means that if by encouraging Empire settlement, the population of the Mother Country can be maintained at about its present level, we should have to import annually food supplies to the value of about 400 millions, and the policy proposed, of which the broad outlines appear to have been already laid down at previous Imperial Conferences, is that the whole of this amount should be expended in the markets of the Empire in return for the purchase from us of our own manufactures. The prices for wheat and meat within the Empire and the conditions necessary to exclude, or limit, foreign supplies would periodically be adjusted at each Imperial Conference Conference with the object of stabilising the market. Mr Grondona quotes facts and figures to prove that, by thus obtaining our supplies from Imperial sources, outside the influence of foreign marketing organisations, the cost of foodstuffs to the British consumer would actually be reduced, in which case it would not be unreasonable to employ any saving thus effected to build up our own cruelly depleted agricultural products. Even if this involved a small import

duty on certain Empire supplies, so long as the British consumer paid no more for his food than he does at present, the most bigoted of free-fooders would find himself devoid of arguments against Imperial Preference. On the other hand, if the Empire supply policy did involve a slight increase in the cost of certain food essentials, his arguments would not hold water against the enormous advantages which would result from the adoption of that policy. It would secure a permanent and rapidly developing market within the Empire for British manufactures, and it is surely infinitely better for our workpeople to find regular employment at good wages, even if food costs a little more, than to exist on the dole as an annual charge on the community. Then, by agreeing to buy our food supplies within the Empire, we shall do more, at one stroke, to consolidate that wonderful commonwealth of nations than all the platitudes regarding the bonds of kinship in which our politicians have indulged during the last twenty years. Furthermore, with a free interchange of commodities within the Empire, each Dominion will be more disposed to develop its natural resources, and thus provide suitable employment for British emigrants, than to strive for autonomy by establishing industries which already exist, and can be more economically conducted, other parts of the Empire. In our principal dominions there

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has been a marked tendency the Empire, whilst the main this latter direction of late chinery which at present deals years. It is the natural out- with this important matter come of our persistent rejection must be greatly simplified and of Imperial Preference in re- speeded up. lation to our food supplies, and the longer we maintain that suicidal attitude, the weaker our hold on the Empire must become. It is, therefore, earnestly to be hoped that a definite Empire policy of food supply will be agreed upon at the Conference now being held, and that it will subsequently be pressed upon the Imperial Government. If that is done, we venture to predict that the Conference will be gratefully remembered for all time as having laid the foundation of a policy full of infinite possibilities for the good of this country and the British Empire.

We have not said much in this article about Protection-or, as we now prefer to call it, the Safeguarding of Home Industries, as that is a natural corollary to Imperial Preference. We have, however, shown that, to the limited extent to which it has been adopted, safeguarding has produced results so entirely satisfactory that they amply justify its further extension. This should be on the broad lines that to keep our factories and plants reasonably occupied, and thus to keep unemployment at a low figure, safeguarding is required against the free importation from foreign countries of all goods, either finished or partly finished, which can be produced equally well within

VOL. CCXX.-NO. MCCCXXXIII.

Finally, there is the question of retaliation. We are told by Free Traders that if we institute Empire trading foreign countries will retaliate by withdrawing all "favoured nation" privileges, and by boycotting our goods. The answer is that under Free Trade, as we have already shown, our exports to foreign countries have been steadily dwindling, and even many Free Traders are beginning to admit that it is time Protection in some form should be given a trial. It is very certain that, whether we safeguard our industries or not, foreign countries will continue to buy from us only what they find it necessary to buy, and we can well afford to lose the mythical "favoured nation" privileges, for in a protective tariff we should have a far more valuable economic instrument for clinching bargains, on equal terms, with other protected countries.

Twenty years ago Mr Chamberlain pointed out that whilst our Colonies bought more from us every year, the more we bought from foreign countries, the less they bought from us. To encourage Colonial trade was therefore to encourage our own export trade, but this was not true of foreign trade. This opinion of a great Colonial Secretary has been amply corroborated by subsequent ex

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perience, and would no doubt be endorsed by the present holder of that office, whose privilege it may yet be to carry through the policy which Mr Chamberlain so ably advocated. There is every reason at any rate to believe that Mr Amery is imbued with the same spirit. Writing to the Times' in 1924, strongly condemning the late Government's action in withdrawing the M'Kenna Duties, our present Colonial Secretary concluded his letter as follows:

tion of our workers to national ruin, and the dissolution of the Empire; the other leads to prosperity, strength, and greatness beyond anything that the world has yet seen or dreamed of. How long are we to fumble and hesitate before we have the courage to take up again a great policy in the spirit of the great leader who first proclaimed it?

We do not think we can close this article on a better note than these stirring words of our present Colonial Secretary. We have reached the parting of the ways, and if the Government will pursue the road indicated by Mr Amery, which leads to National and Imperial development, we are confident that they can count on the sympathy and support of the vast majority of their country

"It is no use fencing for ever with great issues. Our choice as a people has got to be made, and made soon, between free trade on the one side, and a policy of National and Imperial development on the other. The one leads through industrial stagnation and the progressive pauperisation and demoralisa- men.

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